Author: Michael Naber 2015-08-11 19:37:01
Published on: 2015-08-11T19:37:01+00:00
In an email exchange between Jorge Timón and Michael Naber on August 11, 2015, they discussed the potential consequences of constraining Bitcoin's capacity below what technology can deliver. Naber argued that limiting Bitcoin's capacity would only push users seeking to participate in a global consensus network to other solutions like BitcoinXT or others. However, Jorge disagreed and stated that as long as Bitcoin remains the best global consensus network and reasonably priced, there is no driving force for people to move to other altcoins. He believed that better money ultimately displaces worse money, and competition will deliver capacity for global consensus whether it's in Bitcoin or some other product/fork. While Jorge acknowledged that hitting the limit is not necessarily a bad thing, he argued that we should not constrain the limit below what technology can deliver. Nevertheless, Naber suggested that once fees start to rise due to hitting the limit, people may be pushed towards other altcoins.
Updated on: 2023-06-10T18:34:18.957416+00:00